I agree. Gina may have no interest in buying the STX company now that the SE bubble has been pricked.
She can just outspend STX on WE and wait for STX to have to sell down and give up the operatorship to her.
Walyering cashflow won't be sufficient to satisfy the large WE capex, W7, exploration, etc and service the Mac Bank debt. STX only had $41M of net cash at 31 Dec, as shown in their latest quarterly. A CR at these prices will be very painful, even for the major egos.
AIMHO
Sanity Relief, page-19
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Last
22.5¢ |
Change
0.010(4.65%) |
Mkt cap ! $643.6M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 21.5¢ | $3.339M | 14.95M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 337869 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 1651352 | 24 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| STX (ASX) Chart |